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11 appropriate, shill be added to the principal and interest payable on the Bonds to determine compliance with this rate covenant. Flow of Funds for the Bonds Under the Resolution, the County has covenanted that all Revenues shall upon receipt thereof be deposited in the 'Water and Sewer Revenue Fund' (the 'Revenue Fund'). The Revenues are subject to the prior pledge and lien granted with respect to the Senior Lien Bonds under the Senior Lien Bond Resolution. The Senior Lien Bonds consist of aggregate indebtedness of $9,650,000. The County has covenanted not to issue any bonds or obligations senior to or having priority over the Bonds other than the Senior Lien Bonds. Subject to the prior pledge and lien granted with respect to the Senior Lien Bonds and the flow of funds with respect thereto (Sae 'SECURITY AND SOURCES OF PAYMENT - Flow of Funds under Senior Lien Bond Resolution'), all Revenues on deposit in the Revenue Fund for the Bonds shall be disposed of by the County subject to the following order of priority: (1) First, the County shall transfer in each month to the Operatiaa and Maintenance Fund the amount required to be deposited therein to pay the Operating Expenses due or to become due for such month, provided, however, that credit shall be given for funding of such month's Operating Expenses under the Senior Lien Bond Resolution. (2) Second, the County shall deposit in each month to a fund to be known as the "Water and Sewer Revenue Bonds Sinking Fund" (the 'Sinking Fund"), one-sixth (1/6th) of such sum as will be sufficient to pay interest on the Bonds u the same shall become due on the next interest payment date, together with the amount of any deficiency in prior deposits for interest on Bonds, and one -twelfth (1/121b) of the principal of Bonds maturing or subject to mandatory call for redemption on the next principal payment date with respect to the Bonds. Such deposits shall take into account the sums, if any, in the Rood Amottiration Account (hereinafter defined) attributable to such payments and the sums, if any, deposited in the Sinking Fund out of proceeds from the sale of Bonds to pay interest thereon. In addition, there shall be deposited in the Sinking Fund amounts sufficient to pay the fees and charges of the Paying Agent. (3) Third, the County shall deposit into an account in the Sinking Fund to be known as the 'Bond Amortization Account,' such sums u are required by resolution of the County to be deposited therein at such times u are required thereby for each series of Term Bonds for purposes of the minatory redemption thereof. (4) Fourth, the County shall deposit into an account in the Sinking Fund to be known as the 'Reserve Account," a sum at least equal to and sufficient to pay the maximum amount of principal and interest on all outstanding Bonds becoming due in any ensuing Fiscal Year. A sum to be specified by subsequent resolution of the County will be deposited in the Reserve Account out of the proceeds of the sale of Series 1991 Bonds. To the extent the amount deposited in the Reserve Account is less than the maximum amount of principal and interest on all outstanding Bonds becoming due in any ensuing Fiscal Year, the County will make such additional required payments or substitutions therefor u described herein. However, in no Fiscal Year shall Net Revenues in excess of twenty percent (20%) of the maximum amount of principal and interest on all outstanding Bonds becoming due in any ensuing Fiscal Year be required to be deposited in the Reserve Account, except as may be required by Subsection P or Subsection Z of Section 16 of Resolution No. 89-19. No further deposits shall be required to be made into the Reserve Account as long as there shall remain on deposit therein (including any Reserve Account Credit Instrument as described below) a sum equal to the maximum amount of principal and interest on all outstanding Bonds becoming due in any ensuing Fiscal Year. The value of the Reserve Account, including investments on deposit in the Reserve Account, shall be determined annually on the first day of the Fiscal Year by an independent firm of certified public accountants, who may be the accountants for the County, in accordance with generally accepted accounting principles. Notwithstanding the foregoing, in lieu of, in whole or in part, the required deposits into the Reserve Account, the County may cause to be deposited into the Reserve Account any of the following (each a "Reserve Account Credit Instrument"): 6